7/30/2021, 12:58 PM (Source: TeleTrader)
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P&G: Q4 net sales up 7% YoY to $18.9B

The Procter & Gamble Company (P&G) reported on Friday that its net sales for the fourth quarter of 2021 increased 7% year-over-year reaching $18.9 billion. For this trimester, gross profit rose 5% on an annual basis climbing to $9.2 billion, while operating income stood at $3.5 billion. Meanwhile, net earnings were $2.9 billion which is 7% higher compared to last year, and diluted earnings per share (EPS) went from $1.07 last year to $1.13.

For the entire fiscal year, net sales also climbed 7% to stand at $76.2 billion. P&G's yearly gross profit reached $39 billion while its operating income landed at $18 billion, up 9% and 11% respectively from last year. The company's diluted EPS was $5.50, constituting an 11% annual gain, as its net earnings jumped 10% year-on-year to $14.4 billion.

David Taylor, P&G President, commented on the results: "We delivered another year of strong results with balanced top and bottom-line growth and strong cash generation, exceeding each of our in-going targets. We built strong momentum prior to the pandemic and have strengthened our position further."

P&G shares traded 0.73% higher in the premarket trade following the release of the report.

Baha Breaking News (BBN) / OL